Figure: The Circ interact in the goods and services market, and in the labor market. The direction of the arrow that in the goods and services market, households receive goods and services and pay firms them. In the labor market, households provide labor and receive payment from firms through salaries, and benefits. Review the figure of the circular flow diagram above. Then answer the following question. Kaylie purchases a new jacket from an online vendor. To which of the arrows does this transa- directly contribute? O Goods and services O Payment for Goods and Services O Wages, Salaries, and Benefits
Figure: The Circ interact in the goods and services market, and in the labor market. The direction of the arrow that in the goods and services market, households receive goods and services and pay firms them. In the labor market, households provide labor and receive payment from firms through salaries, and benefits. Review the figure of the circular flow diagram above. Then answer the following question. Kaylie purchases a new jacket from an online vendor. To which of the arrows does this transa- directly contribute? O Goods and services O Payment for Goods and Services O Wages, Salaries, and Benefits
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter4: Labor And Financial Markets
Section: Chapter Questions
Problem 31P: Table 4.6 shows the amount of savings and barrowing in a market for loans lo purchase homes,...
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Question
![Circular Flow Diagram
A: Goods and Services
Salaries
D: Wages,
Households
and Benefits
C: Labor
B: Payment for Goods and Services
Services
Firms
Figure: The Circular Flow Diagram. The circular flow diagram shows how households and firms
interact in the goods and services market, and in the labor market. The direction of the arrows shows
that in the goods and services market, households receive goods and services and pay firms for
them. In the labor market, households provide labor and receive payment from firms through wages,
salaries, and benefits.
O Goods and services
O Payment for Goods and Services
Wages, Salaries, and Benefits
Review the figure of the circular flow diagram above. Then answer the following question.
Kaylie purchases a new jacket from an online vendor. To which of the arrows does this transaction
directly contribute?
O answers A and B only](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9b9da055-d0a2-4bd9-b211-408b5512fd18%2Fe2e61bc3-3ea5-4bd4-920b-32910a0f2eab%2Frthoc7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Circular Flow Diagram
A: Goods and Services
Salaries
D: Wages,
Households
and Benefits
C: Labor
B: Payment for Goods and Services
Services
Firms
Figure: The Circular Flow Diagram. The circular flow diagram shows how households and firms
interact in the goods and services market, and in the labor market. The direction of the arrows shows
that in the goods and services market, households receive goods and services and pay firms for
them. In the labor market, households provide labor and receive payment from firms through wages,
salaries, and benefits.
O Goods and services
O Payment for Goods and Services
Wages, Salaries, and Benefits
Review the figure of the circular flow diagram above. Then answer the following question.
Kaylie purchases a new jacket from an online vendor. To which of the arrows does this transaction
directly contribute?
O answers A and B only
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